Financial Performance - The company's revenue for Q3 2021 was ¥148,734,040.07, a decrease of 45.28% compared to the same period last year[3]. - The net profit attributable to shareholders was -¥60,846,830.85, representing a decline of 437.53% year-on-year[3]. - Operating revenue for the first nine months of 2021 was approximately ¥474.98 million, a decrease of 35.06% compared to ¥731.46 million in the same period of 2020, primarily due to a decline in the automotive intelligent manufacturing equipment business and the absence of mask machine sales revenue from the previous year[9]. - The total operating revenue for the third quarter was CNY 474,983,832.66, a decrease of 35.1% compared to CNY 731,463,109.16 in the same period last year[19]. - The net profit for the quarter was a loss of CNY 149,458,443.73, compared to a profit of CNY 43,105,371.62 in the previous year[20]. - The total comprehensive income attributable to the parent company was -147,480,583.02 CNY, compared to 41,622,050.67 CNY in the previous period[21]. Cash Flow - The cash flow from operating activities showed a negative net amount of -¥74,208,163.22, a decrease of 150.98% compared to the previous year[3]. - The net cash flow from operating activities for the first nine months of 2021 was approximately -¥74.21 million, a decline of 150.98% from ¥145.55 million in the same period of 2020, mainly due to reduced cash receipts from sales[10]. - Net cash flow from operating activities was -74,208,163.22 CNY, down from 145,549,600.75 CNY in the previous year[23]. - Cash inflow from operating activities totaled 535,696,653.92 CNY, while cash outflow was 609,904,817.14 CNY[23]. - Cash flow from investing activities generated a net inflow of 25,986,464.66 CNY, compared to a net outflow of -221,942,530.09 CNY in the previous period[23]. - Cash flow from financing activities resulted in a net outflow of -1,513,334.60 CNY, down from a net inflow of 86,966,589.71 CNY last year[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,357,366,277.42, reflecting a slight increase of 0.37% from the end of the previous year[3]. - The total liabilities rose to CNY 1,081,724,604.44, compared to CNY 966,016,153.54 in the same period last year, reflecting an increase of 12%[17]. - The company's cash and cash equivalents decreased by 30.14% to ¥63,390,110.78, primarily due to reduced cash receipts from sales compared to the previous year[7]. - The company's cash and cash equivalents were not explicitly stated, but the increase in current assets suggests improved liquidity[16]. - The ending balance of cash and cash equivalents was 19,236,337.08 CNY, a decrease from 56,382,820.36 CNY at the end of the previous period[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,719, with the largest shareholder holding 14.11% of the shares[12]. Research and Development - Research and development expenses increased by 98.91% to approximately ¥77.88 million in 2021, driven by increased investment in flat panel display module equipment[9]. - Research and development expenses for the quarter were CNY 77,878,064.88, which is a significant increase of 99% compared to CNY 39,152,122.03 last year[19]. - The company plans to continue expanding its research and development efforts in new technologies and products to enhance its market position[9]. Inventory and Receivables - The inventory level increased to CNY 560,665,231.83, up from CNY 463,665,358.78, indicating a growth of 20.9%[16]. - The accounts receivable balance increased to approximately ¥508.44 million as of September 30, 2021, compared to ¥569.12 million at the end of 2020, indicating a rise in credit risk[15]. Other Financial Metrics - The basic and diluted earnings per share were both -¥0.2109, down 437.44% year-on-year[3]. - Basic and diluted earnings per share were both -0.5111 CNY, a decrease from 0.1442 CNY in the same period last year[21]. - The company reported a significant increase in financial expenses, rising by 97.63% to approximately ¥21.46 million, attributed to increased borrowing interest and bill discounting costs[9]. - The company's intangible assets decreased by 48.52% to ¥86,995,690.51, mainly due to changes in the use of raised funds[8]. - The company reported a significant increase in construction in progress, rising by 9585.37% to ¥28,944,829.88 due to investments in the Hubei Zhiyun Chang fully automated equipment manufacturing industrial park[7]. - The company’s contract liabilities increased by 41.25% to ¥204,861,396.85, indicating that some orders have been shipped but not yet recognized as revenue[8].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥326,249,792.59, a decrease of 29.03% compared to ¥459,677,482.40 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥86,633,752.17, representing a decline of 467.17% from ¥23,595,213.29 in the previous year[19]. - The net cash flow from operating activities was -¥72,553,855.72, down 139.88% from ¥181,933,500.55 in the same period last year[19]. - The basic and diluted earnings per share were both -¥0.30, a decrease of 433.33% compared to ¥0.09 in the same period last year[19]. - The company reported a significant tax expense change, with a tax benefit of approximately -¥2.88 million compared to a tax expense of ¥2.19 million in the previous year, reflecting increased operating losses[45]. - The company reported a net loss of ¥86,933,899.36 for the first half of 2021, compared to a net profit of ¥22,388,459.15 in the same period of 2020[155]. - The total comprehensive loss for the first half of 2021 was ¥86,933,899.36, compared to a comprehensive income of ¥22,388,459.15 in the first half of 2020[156]. Revenue Breakdown - Revenue from the core business of flat panel display module equipment was 247.66 million yuan, an increase of 88.76% year-on-year[30]. - Revenue from automotive intelligent manufacturing equipment was 71.48 million yuan, a year-on-year decrease of 42.33%[30]. - The company's revenue for the reporting period was approximately ¥326.25 million, a decrease of 29.03% compared to the previous year's ¥459.68 million, primarily due to the temporary addition of mask machine business in the prior year[45]. - Revenue from flat panel display module equipment reached approximately CNY 247.66 million, up 88.76% year-on-year, with a gross margin of 32.18%[48]. - Revenue from automotive intelligent manufacturing equipment decreased by 42.33% to approximately CNY 71.48 million, with a gross margin of 16.45%[48]. Research and Development - The company invested 28.74 million yuan in R&D, focusing on OLED, Mini LED, and Micro LED automation equipment, indicating a commitment to future growth[30]. - The company plans to enhance R&D investment in OLED, MiniLED, and MicroLED automation equipment to drive product upgrades and structural adjustments[73]. - The company's R&D investment increased by 118.48% to approximately CNY 53 million compared to the same period last year[46]. - The company holds 27 invention patents, 111 utility model patents, and 65 software copyrights, showcasing its strong focus on technology and innovation[38]. Market and Industry Trends - The domestic market for flat panel display automation equipment is expected to grow significantly, driven by the increasing demand for OLED technology and the shift of production capacity to China[31][34]. - The semiconductor equipment market in China is projected to reach 16.8 billion USD in 2021, accounting for 23% of the global market, providing significant growth opportunities for domestic equipment manufacturers[33]. - The aging population is driving automation in the 3C manufacturing industry, leading to increased demand for intelligent manufacturing solutions[30]. - The global Mini LED market is projected to expand from approximately $10 million in 2018 to $2.32 billion by 2024, highlighting significant growth potential in this technology[37]. Financial Position - The total assets at the end of the reporting period were ¥2,428,150,428.44, an increase of 3.38% from ¥2,348,786,738.39 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company decreased by 4.31% to ¥1,299,455,678.89 from ¥1,358,039,455.70 at the end of the previous year[19]. - The company's cash and cash equivalents decreased by 287.76% to approximately -CNY 59.98 million, attributed to reduced cash receipts from sales[46]. - The company's total liabilities increased to CNY 1,104,606,149.74 from CNY 966,016,153.54, an increase of about 14.3%[147]. Cash Flow Analysis - Operating cash flow decreased by 139.88% to approximately -CNY 72.55 million, primarily due to reduced cash receipts from sales compared to the previous year[46]. - The net cash flow from investment activities improved by 45.90% to approximately -CNY 60.50 million, reflecting a decrease in payments for equity transfers[46]. - The net cash flow from financing activities increased by 291.53% to approximately CNY 73.08 million, mainly due to new short-term bank loans[46]. - The cash inflow from the sale of goods and services was 326,359,817.80 CNY in H1 2021, a decline of 45.1% compared to 594,915,761.81 CNY in H1 2020[161]. Shareholder Information - Shareholder Tan Yongli transferred 14,476,190 shares (5.02% of total shares) to Anji Kaisheng, with the transfer completed by the end of the reporting period[121]. - The total number of shareholders at the end of the reporting period was 22,451[130]. - Major shareholder Tan Yongli held 14.11% of shares, totaling 40,727,507, with a decrease of 5,770,993 shares[130]. Compliance and Governance - The semi-annual financial report has not been audited[101]. - The company has maintained compliance with regulations regarding the use of raised funds, ensuring transparency and accountability[66]. - There were no significant environmental issues or administrative penalties reported during the period[94]. - The company did not engage in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[99]. Future Outlook and Risks - The company faces risks from macroeconomic fluctuations, intensified market competition, and potential declines in downstream demand, and plans to strengthen R&D and market strategies to mitigate these risks[76][77][78]. - The company aims to reduce the risk of bad debts by strengthening internal controls and monitoring accounts receivable management[80]. - The company is committed to minimizing inventory impairment risks by enhancing inventory management and production planning[81].

Financial Performance - The company's operating revenue for 2020 was CNY 1,187,325,841.62, representing a 291.67% increase compared to CNY 303,145,104.21 in 2019[16]. - The net profit attributable to shareholders was CNY 36,237,401.23, a significant turnaround from a loss of CNY 696,157,923.85 in the previous year, marking a 105.72% improvement[16]. - The net cash flow from operating activities reached CNY 190,881,391.59, an increase of 1,301.08% from CNY 13,623,911.00 in 2019[16]. - Basic earnings per share improved to CNY 0.13 from a loss of CNY 2.52 in 2019, reflecting a 105.12% increase[16]. - Total assets at the end of 2020 were CNY 2,348,786,738.39, up 26.70% from CNY 1,853,798,472.21 at the end of 2019[16]. - The company's net assets attributable to shareholders increased by 10.70% to CNY 1,358,039,455.70 from CNY 1,226,762,229.40 in 2019[16]. - In 2020, the company reported a total revenue of CNY 1,172,423,008.56, with a significant increase in sales from the previous year, particularly in the flat panel display module equipment segment, which saw a revenue increase of 974.28%[55]. - The company reported a net profit attributable to shareholders of 36,237,401.23 yuan for the year 2020, while the parent company recorded a net loss of 29,741,679.39 yuan[129]. Business Strategy and Development - The company aims to become a leading provider of semiconductor intelligent equipment systems, focusing on high-end intelligent manufacturing equipment and related technical services[24]. - The company has expanded its business segments to include 3C intelligent manufacturing equipment and automotive powertrain intelligent manufacturing equipment, enhancing its competitive advantage in the display module equipment sector[24]. - The company has established a robust R&D team and a structured innovation system, focusing on preemptive R&D investments in OLED and semiconductor-related fields[25]. - The company is enhancing its R&D capabilities and pursuing synergistic acquisitions to improve its coverage in the back-end module process[30]. - The company aims to enhance its R&D capabilities and expand into new fields, particularly focusing on OLED-related equipment demands[34]. - The company is focusing on the development of flexible OLED equipment to capture future market opportunities in the OLED development cycle[66]. - The company has outlined future development plans and potential risks in its report, emphasizing the importance of risk awareness for investors[4]. Market Trends and Opportunities - The semiconductor industry revenue grew by 10.4% in 2020, reaching $473.3 billion, with China's semiconductor market share exceeding 50%[31]. - The domestic semiconductor equipment market is projected to reach $16.8 billion in 2021, accounting for 23% of the global market[31]. - The global smartphone panel market revenue reached $43 billion in 2020, with OLED panels contributing 60% of the revenue share[33]. - The domestic AMOLED market share increased from 9.8% in 2019 to 13.2% in 2020, indicating accelerated localization of the panel industry[33]. - The company anticipates that the OLED production line investment will exceed 400 billion from 2020 to 2022, indicating a strong growth potential in the OLED display market[29]. - The domestic market share of the company's display module equipment is increasing due to the rising domestic substitution rate, which is expected to positively impact the company's performance[29]. Research and Development - The company completed 51 patent applications during the reporting period, including 11 invention patents and 40 utility model patents[38]. - The company’s R&D expenses amounted to CNY 62,359,379.63, representing 5.25% of total revenue, with a focus on OLED-related equipment development[64]. - The company has initiated research on semiconductor packaging and testing modules, with several key modules already achieving breakthroughs[68]. - The company completed R&D breakthroughs in MiniLED and MicroLED equipment, securing orders and shipments, and collaborated with Xiaomi on advanced equipment development[68]. Shareholder and Profit Distribution - The profit distribution plan for shareholders includes no cash dividends or bonus shares, reflecting a focus on capital reserves[4]. - The company did not propose any cash dividends, stock bonuses, or capital reserve transfers for the year 2020, despite achieving a positive net profit[129]. - The company’s cash dividend for 2020 was 0.00 yuan, maintaining a consistent policy of not distributing dividends during periods of negative retained earnings[131]. - The company’s capital reserve transfer to share capital was also 0 for the year 2020, reflecting a conservative approach to capital management[131]. - The company plans to focus on new product development and business expansion, which requires significant investment, hence the decision to withhold dividends[129]. Acquisitions and Investments - The company acquired 81.32% of Jiutian Zhongchuang, enhancing its competitive edge in the flat panel display module equipment sector[45]. - The company plans to invest a total of 317.14 million CNY in acquiring 81.3181% equity of Shenzhen JiuTian ZhongChuang Automation Equipment Co., Ltd., with 295.47 million CNY sourced from raised funds[97]. - The company has committed RMB 8,700 million to the construction of the Dalian Zhiyun Technology Center, with 100% of the investment completed by August 15, 2017[88]. - The company has established new subsidiaries to enhance its business development, including the establishment of Xianggan JiuTian ZhongChuang Automation Equipment Co., Ltd.[100]. Financial Management and Fundraising - The company raised a total of RMB 26,442.155 million from its initial public offering, with a net amount of RMB 25,859.915 million after deducting issuance costs[84]. - The company has maintained transparency in its fundraising and usage disclosures, with all announcements published on the designated information disclosure website[96]. - The company has not made any significant changes to the use of raised funds as of the reporting date[88]. - The company is committed to improving internal controls to manage accounts receivable and reduce the risk of bad debts, given the long execution and settlement cycles in its industry[117]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, intensified market competition, and potential declines in downstream demand, which could impact sales and revenue[113][114][115]. - The company is focused on post-acquisition management to mitigate goodwill impairment risks associated with its acquisitions[120]. - The company faced challenges in achieving expected project returns due to intensified competition in the industry[92]. - The company is currently in a critical phase of business expansion and new product development, with significant investments planned for new products and projects to support long-term strategic growth[132].

Financial Performance - The company's revenue for Q1 2021 was ¥231,261,079.48, representing a 22.21% increase compared to ¥189,230,353.81 in the same period last year[7] - The net profit attributable to shareholders was -¥18,039,695.75, a decrease of 196.93% from ¥18,611,810.27 in the previous year[7] - Basic and diluted earnings per share were both -¥0.06, a decline of 200.00% compared to ¥0.06 in the previous year[7] - The company reported a net loss of CNY 184,163,081.44 as of March 31, 2021, compared to a loss of CNY 166,123,385.69 at the end of 2020[54] - Total operating revenue for Q1 2021 reached ¥231,261,079.48, an increase from ¥189,230,353.81 in the previous period[59] - Net profit for Q1 2021 was a loss of ¥17,491,426.36, compared to a profit of ¥18,119,821.20 in the same period last year[61] - The company's operating profit was reported at -¥17,820,187.09, a significant decline from ¥17,738,868.46 in the previous year[61] - Total comprehensive income for the first quarter was -9,815,250.93 CNY, compared to 5,450,350.27 CNY in the previous period[66] Cash Flow and Assets - The net cash flow from operating activities was -¥22,643,142.52, down 129.69% from ¥76,267,421.57 in the same period last year[7] - Cash inflow from operating activities was 220,980,587.99 CNY, down from 232,840,743.44 CNY year-on-year[68] - Cash outflow from investing activities totaled 64,510,548.94 CNY, compared to 6,359,555.05 CNY in the previous period[69] - The ending cash and cash equivalents balance was 27,503,124.57 CNY, down from 93,625,704.27 CNY in the previous year[70] - The company reported a net cash increase of -41,477,492.83 CNY for the period, compared to an increase of 46,075,163.29 CNY in the previous year[70] - Cash and cash equivalents decreased by 42.10% to ¥52,538,430.28, primarily due to the use of raised funds for acquiring an 81.3181% stake in Jiutian Zhongchuang[16] - The company's current assets totaled CNY 1,278,503,548.10, up from CNY 1,240,062,247.72 at the end of 2020, indicating an increase of about 3.1%[51] Liabilities and Equity - Total liabilities increased to CNY 1,001,238,659.15 from CNY 966,016,153.54, marking an increase of about 3.6%[53] - The company's equity attributable to shareholders decreased slightly from CNY 1,358,039,455.70 to CNY 1,353,679,747.63, a decline of approximately 0.3%[54] - The short-term borrowings rose to CNY 260,000,000.00 from CNY 211,476,222.23, an increase of about 22.9%[52] Research and Development - Research and development expenses skyrocketed by 276.50% to ¥24,243,062.42, largely due to the consolidation of Jiutian Zhongchuang's financials since July 2020[19] - Research and development expenses increased to ¥24,243,062.42, compared to ¥6,438,991.23 in the prior year, reflecting a focus on innovation[60] - The company aims to enhance its R&D capabilities and expand its equipment coverage, moving from bonding and dispensing to laminating and bending processes[24] Market and Strategic Initiatives - The company anticipates continued demand for automation equipment driven by the aging population and the shift towards smart manufacturing in the 3C industry[22] - The OLED display technology is expected to see significant investment, with over ¥400 billion projected for new investments from 2020 to 2022, indicating strong market growth potential[23] - The domestic market share for flat panel display equipment is expected to rise as the industry shifts focus to domestic production, enhancing the company's performance[23] - The company is investing CNY 420 million in the development of a semiconductor automation equipment production base in Wuhan, focusing on new display LCD modules and OLED module production lines[33] Risk Management - The company is facing risks from macroeconomic fluctuations, intensified market competition, and potential declines in downstream demand, prompting a focus on cost control and product upgrades[25][26][27] - The company is enhancing internal controls to manage accounts receivable and reduce the risk of bad debts, given the long execution and settlement cycles of contracts[29] - The company is taking measures to control inventory and reduce the risk of inventory impairment as its business scales up and product lines expand[30] Fund Utilization and Investments - The total amount of raised funds that have been changed in use is 62,562.1 million yuan, accounting for 85.40% of the total raised funds[39] - The company has completed 100% of the investment in the Dalian Zhiyun Technology Center project, with an investment amount of 3,103.9 million yuan[39] - The company has invested 29,514.71 million yuan in the 3C intelligent manufacturing equipment capacity construction project, with a progress rate of 61.23%[39] - The company has fully utilized 17,818.62 million yuan for working capital, achieving a 100% investment completion rate[39] - The company has reported that the use of raised funds aligns with actual usage, with no issues of untimely or inaccurate disclosures[43] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,462[10] - The top shareholder, Tan Yongliang, held 16.11% of the shares, amounting to 46,498,500 shares[10]

Financial Performance - Operating revenue for the reporting period reached CNY 271,785,626.76, a significant increase of 379.56% year-on-year[7] - Net profit attributable to shareholders was CNY 18,026,837.38, reflecting a growth of 166.61% compared to the same period last year[7] - Basic earnings per share rose to CNY 0.0625, an increase of 166.60% year-on-year[7] - The net profit for Q3 2020 was ¥20,716,912.47, a recovery from a net loss of ¥27,637,424.45 in the previous year[44] - The net profit attributable to the parent company was CNY 41,622,050.67, recovering from a loss of CNY 90,034,818.27 in the previous year[52] - The total comprehensive income for the period was CNY 20,716,912.47, a decrease from CNY 4,942,109.81 in the previous year[49] - The net profit for the third quarter was a loss of CNY 609,691.68, compared to a profit of CNY 3,791,829.43 in the previous year, indicating a significant decline[56] Cash Flow - The net cash flow from operating activities showed a drastic improvement, with a net inflow of CNY 145,549,600.75, up 1580.81% year-to-date[7] - The net cash flow from operating activities improved dramatically to ¥145,549,600.75, a 1580.81% increase from -¥9,829,069.51 in the previous year[20] - The net cash flow from operating activities was CNY 145,549,600.75, a recovery from a negative cash flow of CNY 9,829,069.51 in the previous year[59] - The net cash flow from operating activities for the period was ¥118,286,481.66, a significant improvement compared to a net outflow of ¥6,893,893.82 in the same period last year, indicating a turnaround in operational performance[61] - Total cash inflow from operating activities reached ¥320,191,655.03, up from ¥154,797,164.51 year-on-year, reflecting a growth of approximately 106.5%[61] Assets and Liabilities - Total assets increased by 22.48% to CNY 2,270,549,297.78 compared to the end of the previous year[7] - The company's total liabilities increased by 81.13% to ¥322,910,379.74, largely due to the liabilities assumed from the acquisition of Jiutian Zhongchuang[16] - The company's total liabilities increased to CNY 901,335,492.54 from CNY 628,810,738.87, which is an increase of approximately 43.3%[36] - The total assets as of September 30, 2020, were ¥2,113,256,473.21, up from ¥1,856,115,752.45 at the end of 2019[40] - The company's total liabilities increased to ¥472,904,759.19 from ¥299,849,981.97 year-over-year[40] - The total assets of the company stood at ¥1,853,798,472.21, with total liabilities amounting to ¥628,810,738.87, resulting in total equity of ¥1,224,987,733.34[68] Shareholder Information - The company reported a total of 26,412 common shareholders at the end of the reporting period[11] - The top shareholder, Tan Yongliang, holds 16.11% of the shares, totaling 46,498,500 shares[11] - There were no significant changes in the number of preferred shareholders or restricted shares during the reporting period[13] Government Support and Subsidies - The company received government subsidies amounting to CNY 6,395,049.55, primarily related to unemployment insurance refunds and R&D support[8] Research and Development - The company reported R&D expenses of ¥14,889,491.00, up from ¥10,422,677.46 in the same quarter last year, highlighting a focus on innovation[43] - Research and development expenses increased to CNY 7,347,546.91, up 88.5% from CNY 3,892,457.19 in the same period last year[54] Inventory and Receivables - Accounts receivable increased by 53.49% to ¥48,547,290.66, mainly due to the increase in the amount of bank acceptance bills that have been endorsed or discounted[16] - Inventory levels rose to CNY 572,704,858.43, compared to CNY 463,288,217.40 at the end of 2019, marking an increase of around 23.7%[34] - Accounts receivable increased to CNY 388,671,334.27 from CNY 368,165,800.85, reflecting a rise of approximately 5.4%[34] Financial Management - The weighted average return on net assets was 1.37%, down from 3.21% at the beginning of the year[7] - The company incurred financial expenses of CNY 10,859,357.04, down from CNY 13,002,301.17 in the previous year[51] - The company reported a decrease in sales expenses to CNY 6,469,798.20, down 39.1% from CNY 10,692,926.65 in the previous year[54] Employee Stock Ownership Plan - The company plans to implement a second employee stock ownership plan, which was approved by the board and shareholders, involving the acquisition of 13,358,933 shares[21] - The second phase of the employee stock ownership plan was successfully completed, with stock transfers finalized by October 15, 2020[24] Changes in Financial Reporting - The company adopted new revenue and leasing standards, resulting in reclassification of pre-receipts to contract liabilities[74] - The company has reclassified pre-receipts as contract liabilities and other current liabilities according to the new revenue recognition standards, impacting the financial statement presentation[64]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 459,677,482.40, representing a 169.40% increase compared to CNY 170,631,535.67 in the same period last year[16]. - The net profit attributable to shareholders was CNY 23,595,213.29, a significant turnaround from a loss of CNY 62,973,565.39 in the previous year, marking a 137.47% improvement[16]. - The net cash flow from operating activities reached CNY 181,933,500.55, compared to a negative cash flow of CNY 28,076,269.03 in the same period last year, reflecting a 748.00% increase[16]. - Basic earnings per share improved to CNY 0.09 from a loss of CNY 0.22, indicating a 141.11% increase[16]. - The company achieved operating revenue of CNY 459.68 million and a net profit attributable to shareholders of CNY 23.60 million for the reporting period[38]. - The company reported a net loss of CNY 179,210,995.11 as of June 30, 2020, compared to a loss of CNY 202,360,786.92 at the end of 2019, indicating an improvement in loss by approximately 11.4%[152]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,286,661,313.11, up 23.35% from CNY 1,853,798,472.21 at the end of the previous year[16]. - The company's total liabilities as of June 30, 2020, were CNY 1,022,860,055.56, compared to CNY 628,810,738.87 at the end of 2019, reflecting a significant rise of approximately 62.8%[152]. - The company's cash and cash equivalents increased to CNY 138,115,717.49 from CNY 63,371,964.83, marking a growth of about 117.5%[149]. - The accounts receivable decreased to CNY 306,253,774.72 from CNY 368,165,800.85, showing a decline of approximately 16.8%[149]. - The inventory level rose to CNY 594,496,428.11, up from CNY 463,288,217.40, which is an increase of around 28.4%[150]. Investments and Acquisitions - The company acquired 81.32% of Shenzhen Jiutian Zhongchuang Automation Equipment Co., enhancing its competitive edge in the display module equipment sector[39]. - The company invested CNY 31,714.06 million in acquiring 81.3181% equity of Shenzhen Jiutian Zhongchuang Automation Equipment Co., Ltd., with CNY 29,547.39 million sourced from raised funds[65]. - The company has committed to invest in several projects, with a total investment commitment of RMB 88,880.7 million, of which RMB 62,882.8 million has been utilized[62]. Research and Development - The company has established a comprehensive R&D system and emphasizes technological innovation and independent R&D capabilities to maintain its core competitiveness[32]. - Research and development expenses were ¥24,262,631.03, down 10.24% from ¥27,030,158.79 in the previous year, indicating a focus on cost management[44]. - The company aims to strengthen its R&D reserves and actively explore new fields and businesses related to OLED equipment demand[29]. Market Position and Strategy - The company focuses on high-end intelligent manufacturing equipment, with two main business segments: 3C intelligent manufacturing equipment and automotive & new energy intelligent manufacturing equipment[23]. - The company has seen a significant increase in demand for automation upgrades and import substitution in manufacturing equipment due to domestic industrial transformation and the disappearance of demographic dividends[27]. - The company emphasizes the importance of brand reputation and customer service, which has helped solidify its market position[36]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts[4]. - The company faces risks from macroeconomic fluctuations, including trade disputes and the COVID-19 pandemic, which may impact profitability[80]. - The company will strengthen internal controls to manage accounts receivable and mitigate bad debt risks[83]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 23,300[130]. - Major shareholder Tan Yongliang holds 16.11% of shares, with a decrease of 15,499,500 shares during the reporting period[131]. - The company did not experience any changes in its controlling shareholder during the reporting period[133]. Corporate Governance - The company is committed to improving the quality of information disclosure and financial reporting to enhance investor relations[42]. - The company has no significant litigation or arbitration matters during the reporting period[94]. - The company has not engaged in entrusted financial management, derivative investments, or entrusted loans during the reporting period[74][75][76].

Financial Performance - The company's operating revenue for 2019 was ¥303,145,104.21, a decrease of 68.94% compared to ¥975,900,111.12 in 2018[16] - The net profit attributable to shareholders was -¥696,157,923.85, representing a decline of 667.77% from ¥122,612,571.97 in the previous year[16] - The net cash flow from operating activities was ¥13,623,911.00, down 70.94% from ¥46,885,004.59 in 2018[16] - The total assets at the end of 2019 were ¥1,853,798,472.21, a decrease of 29.36% from ¥2,624,271,867.36 at the end of 2018[16] - The net assets attributable to shareholders decreased by 37.57% to ¥1,226,762,229.40 from ¥1,965,045,685.09 in 2018[16] - The basic earnings per share for 2019 was -¥2.52, a decline of 686.05% compared to ¥0.43 in 2018[16] - The weighted average return on equity was -43.78%, down 49.84% from 6.06% in the previous year[16] - The company reported a net profit of -¥606,123,105.58 in Q4 2019, significantly impacting the annual results[18] - The company reported a total operating income of 303.1451 million yuan, with a net profit attributable to shareholders of -696.1579 million yuan[42] Revenue Breakdown - The revenue from the automation equipment sector was ¥293.83 million, representing 96.93% of total revenue, down 69.33% from the previous year[51] - The company reported a significant decline in sales of flat panel display module equipment, which generated ¥68.22 million in revenue, down 90.83% from ¥743.66 million in 2018[51] - The company’s logistics handling equipment revenue increased by 68.60% year-on-year, reaching ¥22.13 million[51] - The company reported a total revenue of 43,530,167.98 CNY from automatic detection equipment, with a gross margin of 28.83%, showing a year-over-year decrease of 2.29% in revenue and an increase of 8.18% in gross margin[54] - Automatic assembly equipment generated revenue of 139,977,592.50 CNY, with a gross margin of 3.49%, reflecting an 11.15% increase in revenue but a significant decline of 15.30% in gross margin compared to the previous year[54] - The logistics handling equipment segment saw a revenue increase of 68.60% to 22,133,501.17 CNY, with a gross margin of 30.46%, up from 5.11% in the previous year[54] Research and Development - The company has established a strong R&D team and collaborates closely with downstream customers to tailor solutions, enhancing its innovation capabilities[27] - The company aims to strengthen its R&D reserves and expand into new fields related to OLED and semiconductor equipment, enhancing its competitive edge[32] - The company established an OLED equipment division to focus on the development, production, and sales of OLED display module automation equipment, with new orders exceeding 200 million yuan by the end of 2019[42] - The company completed 33 patent applications during the reporting period, including 8 invention patents and 25 utility model patents, enhancing its technological innovation capabilities[35] - Research and development expenses increased by 45.37% to 59,370,488.83 CNY, primarily due to ongoing investments in OLED module-related automation equipment[63] - The company is enhancing its foundational R&D capabilities in both hardware and software to maintain a technological edge in the industry[66] - The company aims to enhance its R&D management and focus on high-precision motion control, image processing, and automation-related information systems to maintain competitiveness in the OLED display module sector[111] Market and Industry Trends - The intelligent manufacturing equipment industry is in a rapid development phase, driven by rising labor costs and the need for technological innovation[107] - The market for intelligent manufacturing equipment is expected to grow rapidly, with increasing market concentration and accelerated technological iteration[107] - The global tablet display touch industry is experiencing rapid growth, with China becoming the largest exporter of LCD panels, surpassing Japan and South Korea[108] - OLED screen market penetration is expected to reach 68.1% by 2023, driving significant investments in OLED production lines in China, with 12 lines established or planned as of the end of 2019[108] - The demand for OLED automation production equipment is projected to surge starting in 2020, particularly for back-end module equipment, indicating a broad market development space[108] - Mini LED technology has entered mass production, with strong market demand for small-pitch LED displays, which are becoming the main growth driver for the LED display market[109] Corporate Governance and Management - The company is focusing on improving the quality of information disclosure and financial reporting, enhancing communication with third-party institutions[47] - The company plans to enhance management capabilities to address the increasing complexity of operations and risk management due to business expansion[119] - The company aims to build a high-quality management team that aligns with its growth scale and implements effective control and incentive policies[119] - The company is committed to improving its internal control systems and organizational structure to mitigate management risks associated with its growth strategy[119] - The company has maintained independence in operations, assets, and finances, with no related party transactions prior to the recent acquisition[131] Shareholder and Capital Management - The company repurchased a total of 13,358,933 shares, accounting for 4.63% of the total share capital, with a total expenditure of approximately ¥155.55 million[43] - The cash dividend distributed in 2019 represented 100% of the total profit distribution amount, despite the negative net profit[123] - The company has not proposed any cash dividend distribution plan for the fiscal year 2019 due to negative profits[128] - The total number of shareholders at the end of the reporting period is 23,497, with no changes in the structure of preferred shareholders[173] - Major shareholder Tan Yongli holds 21.49% of the shares, totaling 61,998,000 shares, with 13,000,000 shares pledged[174] Risks and Challenges - The company faced significant risks and challenges, which were detailed in the report, requiring investor attention[4] - The company is committed to improving internal controls and monitoring accounts receivable to mitigate the risk of bad debts amid economic uncertainties[118] - The company recognizes the importance of dynamic management in R&D to adapt to rapid changes in customer needs and market trends, particularly in the OLED flexible display sector[111] Asset Management - Cash and cash equivalents decreased by 112.4493 million yuan, a reduction of 63.96%, mainly due to a decline in operating income and repayment of bank loans[33] - Accounts receivable decreased by 311.7189 million yuan, a reduction of 45.85%, primarily due to a slowdown in market demand for traditional products in the 3C intelligent manufacturing equipment sector[34] - The company’s goodwill decreased by 381.7159 million yuan, a reduction of 42.53%, due to the performance losses of subsidiary Xinsanli[34] - The company reported a significant asset impairment loss of -584,355,436.12 CNY, mainly due to goodwill impairment and inventory write-downs[63]

Financial Performance - The company's operating revenue for 2019 was ¥303,145,104.21, a decrease of 68.94% compared to ¥975,900,111.12 in 2018[17]. - The net profit attributable to shareholders was -¥696,157,923.85, representing a decline of 667.77% from ¥122,612,571.97 in the previous year[17]. - The net cash flow from operating activities was ¥13,623,911.00, down 70.94% from ¥46,885,004.59 in 2018[17]. - The total assets at the end of 2019 were ¥1,853,798,472.21, a decrease of 29.36% from ¥2,624,271,867.36 at the end of 2018[17]. - The net assets attributable to shareholders decreased by 37.57% to ¥1,226,762,229.40 from ¥1,965,045,685.09 in 2018[17]. - The basic earnings per share for 2019 was -¥2.52, a decline of 686.05% compared to ¥0.43 in 2018[17]. - The weighted average return on net assets was -43.78%, down 49.84% from 6.06% in the previous year[17]. - The company reported a net loss in each quarter of 2019, with the largest loss occurring in Q4 at -¥606,123,105.58[19]. - The company reported a total revenue of 303.1451 million yuan, with a net profit attributable to shareholders of -696.1579 million yuan[42]. - The company reported a significant decline in sales of flat panel display module equipment, which generated ¥68.22 million, down 90.83% from ¥743.66 million in 2018[52]. Business Operations - The main business segments include 3C intelligent manufacturing equipment and automotive & new energy intelligent manufacturing equipment, with no significant changes in the main business during the reporting period[27]. - The company has established a strong R&D team and a comprehensive innovation system, focusing on OLED and semiconductor-related business areas[28]. - In 2019, the demand for automation upgrades in manufacturing equipment increased significantly due to the need for improved production efficiency and cost reduction[30]. - The transition from traditional LCD screens to OLED screens has led to a decrease in investment in LCD display modules, impacting procurement of related equipment[30]. - The company is one of the few in China capable of providing customized intelligent manufacturing equipment solutions, maintaining a leading position in core technologies and products in its niche markets[32]. - The company aims to enhance its R&D reserves and actively explore new fields and businesses related to OLED and semiconductor equipment[32]. - The company established an OLED equipment division to meet market demand, resulting in over 200 million yuan in new orders by the end of 2019[42]. - The company has a strong market presence and has established close cooperation with downstream customers to enhance its product development capabilities[30]. Research and Development - The company completed 33 patent applications during the reporting period, including 8 invention patents and 25 utility model patents[35]. - Research and development expenses increased by 45.37% to CNY 59,370,488.83, primarily due to ongoing investments in OLED module-related automation equipment[65]. - The company is committed to enhancing its R&D capabilities, particularly in OLED technology, to meet market demands[44]. - The company established a dedicated OLED R&D laboratory to enhance its product offerings and meet domestic market demands[67]. - The company plans to enhance its R&D management and focus on high-precision motion control, image processing technology, and automation-related information systems to maintain competitiveness in the OLED and Mini LED sectors[113]. Financial Management - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company has reported a significant increase in other current assets by 1.18% to CNY 21,951,901.15, mainly due to an increase in input VAT credits from its subsidiary[77]. - The company has committed to reducing and standardizing related party transactions, ensuring that any unavoidable transactions will follow market principles and fair pricing[131]. - The company has ensured compliance with legal and regulatory requirements in all related party transactions, protecting the rights of shareholders[132]. - The company has not engaged in any non-operating fund occupation by its controlling shareholder or related parties during the reporting period[137]. Market Trends and Challenges - The intelligent manufacturing equipment industry is in a rapid development phase, driven by rising labor costs and the need for technological innovation[109]. - The market for intelligent manufacturing equipment is expected to become more concentrated and diversified, with accelerated technological iterations[109]. - The demand for OLED automation production equipment is projected to surge starting in 2020, particularly for back-end module equipment, indicating a broad market development space[110]. - The company faces risks from fluctuations in downstream customer demand, which can impact sales and revenue, and plans to enhance market strategies and product competitiveness to address these challenges[118]. Shareholder and Governance - The company repurchased a total of 13,358,933 shares, representing 4.6297% of the total share capital, with a total payment of 155,500,598.83 yuan[168]. - The largest shareholder, Tan Yongliang, holds 21.49% of the shares, totaling 61,998,000 shares, with 13,000,000 shares pledged[172]. - The company has a diverse board with members having backgrounds in engineering, finance, and law, enhancing its governance structure[188][190]. - The company has not reported any shareholding changes among its directors and senior management during the reporting period[186]. - The company has established a commitment to avoid any non-operational fund occupation with its subsidiaries, ensuring financial integrity[131]. Employee Management - The company employed a total of 873 staff members, including 360 production personnel and 161 technical personnel[196]. - The total compensation paid to the board of directors, supervisors, and senior management during the reporting period was 5.7589 million CNY[192]. - The company has implemented a competitive salary policy based on market surveys and performance evaluations[197]. - The company has established a stock incentive plan for core employees to enhance motivation and stability[197].

Financial Performance - Total revenue for Q1 2020 reached ¥189,230,353.81, a significant increase of 585.63% compared to ¥27,599,345.82 in the same period last year[7] - Net profit attributable to shareholders was ¥18,611,810.27, marking a turnaround from a loss of ¥39,938,090.45 in the previous year, representing a growth of 146.60%[7] - The net profit after deducting non-recurring gains and losses was ¥16,494,724.90, up 139.01% from a loss of ¥42,279,794.58 in the same period last year[7] - Basic earnings per share improved to ¥0.06 from a loss of ¥0.14, reflecting a growth of 142.86%[7] - The company reported a net profit attributable to shareholders of ¥18.61 million for the quarter, with an operating profit of ¥17.74 million[24] - The total operating revenue for the first quarter of 2020 was CNY 189,230,353.81, a significant increase from CNY 27,599,345.82 in the previous period[53] - The net profit for Q1 2020 was CNY 18,119,821.20, a significant improvement from a net loss of CNY 39,938,090.45 in the same period last year[56] - The total comprehensive income for Q1 2020 was CNY 18,119,821.20, compared to a loss of CNY 39,938,090.45 in the previous year[56] Cash Flow and Liquidity - Operating cash flow for the period was ¥76,267,421.57, an increase of 123.22% compared to ¥34,166,812.77 in the previous year[7] - Cash and cash equivalents increased by 47.75% to ¥93.63 million from ¥63.37 million at the beginning of the period, primarily due to increased cash receipts from sales[18] - The cash inflow from operating activities was CNY 232,840,743.44, an increase from CNY 202,144,980.32 in the previous period[62] - The ending balance of cash and cash equivalents was 93,625,704.27 CNY, compared to 201,152,737.16 CNY in the previous period, reflecting a decrease of approximately 53.5%[64] - The company reported a significant increase in cash inflow from sales of goods and services, totaling 62,363,657.60 CNY, up from 46,575,183.91 CNY, marking an increase of about 33.8%[66] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,901,438,710.93, a 2.57% increase from ¥1,853,798,472.21 at the end of the previous year[7] - The company's total assets as of March 31, 2020, were CNY 1,851,539,408.18, slightly down from CNY 1,856,115,752.45 at the end of 2019[50] - The total current liability of RMB 1,020,000,000.00 includes short-term borrowings of RMB 149,903,981.00, down from RMB 169,903,981.00[46] - The total liabilities increased to CNY 289,529,573.37 from CNY 299,849,981.97 in the previous period[51] - The total current liabilities decreased to CNY 287,938,981.07 from CNY 298,446,609.65, suggesting better management of short-term obligations[51] Research and Development - Research and development expenses decreased by 58.44% to ¥6.44 million, mainly due to reduced spending amid the pandemic[20] - The company reported a decrease in research and development expenses to CNY 6,438,991.23 from CNY 15,492,977.92, which may impact future innovation[54] - The company plans to enhance its research and development efforts to drive product upgrades and improve competitiveness in response to market conditions[26] Investment and Fund Utilization - The total amount of raised funds is 73,260.78 million yuan, with 1.56 million yuan invested in the current quarter[34] - Cumulative investment from raised funds amounts to 46,990.99 million yuan, with 45.06% of the total raised funds having been redirected[34] - The company has fully completed the investment in the Dalian Zhiyun Technology Center project, achieving 100% of the planned investment[34] - The company has invested 5,640.10 million in permanent working capital, with 100% of the funds utilized[35] - The company has committed to a smart manufacturing equipment capacity construction project with an investment of 29,514.71 million, achieving 100% funding[35] Market Challenges and Strategic Plans - The company anticipates ongoing challenges due to macroeconomic fluctuations and intensified competition in the domestic market[26] - The company will conduct in-depth research on product planning and customer demand to enhance market competitiveness and extend product lines[27] - As the company expands, it faces increased management risks, necessitating improvements in organizational structure and internal control systems[31] Miscellaneous - The company has not undergone an audit for the first quarter report, which may affect the reliability of the financial data presented[68] - The company has no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[40][41]

Financial Performance - Operating revenue for the reporting period was CNY 56,673,879.23, a decline of 78.97% year-on-year[7] - Net profit attributable to shareholders of the listed company was a loss of CNY 27,061,252.88, representing a decrease of 146.11% compared to the same period last year[7] - Basic earnings per share were -CNY 0.0938, down 146.12% year-on-year[7] - The weighted average return on net assets was -1.46%, a decrease of 151.96% compared to the previous year[7] - The net cash flow from operating activities for the year-to-date was -CNY 9,829,069.51, a decline of 111.95%[7] - The company reported a significant increase of 360.05% in other current assets, reaching 23,581,366.27 RMB, primarily due to an increase in retained VAT credits[15] - The company’s investment income dropped by 98.87% to 100,010.43 RMB, as there were no investment activities in financial products during the reporting period[16] - The total operating revenue for Q3 2019 was ¥56,673,879.23, a significant decrease of 78.96% compared to ¥269,514,123.86 in the same period last year[35] - The net profit for Q3 2019 was a loss of ¥27,637,424.45, compared to a profit of ¥58,687,462.32 in Q3 2018, representing a decline of 147.09%[36] - The total comprehensive income for Q3 2019 was -¥18,783,859.26, a significant decline from ¥58,687,462.32 in Q3 2018[37] - The net profit for the period was a loss of CNY 90,915,816.27, compared to a profit of CNY 140,536,266.96 in the previous year, indicating a substantial decline[44] - The comprehensive income totalled CNY -82,062,251.08, contrasting with CNY 140,536,266.96 from the same period last year[45] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,499,443,196.36, a decrease of 4.76% compared to the end of the previous year[7] - Total current assets decreased from CNY 1,370,229,380.30 to CNY 1,221,621,583.06, a decline of approximately 10.8%[26] - Total liabilities decreased from CNY 659,226,182.27 to CNY 642,974,566.81, a reduction of approximately 2.0%[27] - The company's equity attributable to shareholders decreased from CNY 1,965,045,685.09 to CNY 1,851,503,192.74, a decrease of approximately 5.8%[28] - The total equity of the company as of Q3 2019 was ¥1,725,661,179.45, down from ¥1,749,560,107.74, reflecting a decrease of 1.36%[33] - Total liabilities amounted to CNY 659,226,182.27, with non-current liabilities at CNY 3,770,796.86[62] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,095[11] - The largest shareholder, Tan Yongliang, held 28.65% of the shares, amounting to 82,664,000 shares, with 61,998,000 shares pledged[11] Cash Flow and Financing - The company's cash and cash equivalents decreased by 53.75% from the beginning of the year, totaling 175,821,282.29 RMB due to material purchases, share buybacks, and loan repayments[15] - The net cash flow from operating activities was -9,829,069.51 RMB, a 111.95% decrease compared to the previous year, driven by reduced sales and cash receipts[16] - Cash inflow from financing activities totaled 155,706,990.00 CNY, significantly higher than 27,880,973.57 CNY in the previous year[57] - The net cash flow from financing activities was -59,934,587.65 CNY, compared to -84,490,449.45 CNY in the same period last year[57] Research and Development - Research and development expenses increased by 52.74% to 37,452,836.25 RMB, reflecting ongoing investments in automation equipment for OLED module production[16] - Research and development expenses for Q3 2019 were ¥10,422,677.46, an increase of 238.66% compared to ¥3,078,083.92 in the previous year[35] - Research and development expenses increased to CNY 37,452,836.25, up 52.1% from CNY 24,521,236.76 year-on-year[42] Other Financial Metrics - The company incurred a tax expense of CNY -699,531.38, compared to CNY 22,470,527.84 in the previous year[44] - The company experienced a 93.64% decrease in tax liabilities, totaling 1,043,294.55 RMB, due to a decline in revenue from the 3C intelligent manufacturing equipment sector[15] - The company's financial expenses increased by 170.97% to 13,002,301.17 RMB, mainly due to higher interest expenses on loans[16] - The company reported a decrease in sales expenses to CNY 41,578,443.80, down from CNY 55,833,118.33 year-on-year[42]